Marussia working for surprise return to 2015 Formula One grid

Against the odds, Marussia has taken the first steps toward being on the Formula One grid in 2015, and the team is set to come out of bankruptcy later this month.

It's understood that confirmation that the team will receive its substantial payment for finishing ninth in the F1 constructors’ championship has been the key factor. The World Motor Sport Council is set to confirm that the team can use its 2014 chassis, after the FIA said last year that it would allow the two struggling teams to do so, despite rule changes.

One of the keys, of course, is that the team has a power unit -- it currently owes more than $25 million to Ferrari. In the past, F1 has helped pay engine suppliers to cover the bills of struggling teams, but in this case, there is a legal process to be followed.

Administrator Geoff Rowley of FRP Advisory said, “Since the appointment of administrators, negotiations have taken place with a number of parties to try and secure a long-term solution for the team. We can confirm that negotiations continue towards a longer-term viable solution for the business and participation of a team in the 2015 season.

“Given the confidential nature of the negotiations underway, we are unable to provide further details. The joint administrators would like on behalf of Marussia F1 Team to thank all involved with the team for their support during this process.”

The rest of the teams would need to allow Manor on the grid with a 2014 car, which may or may not be a problem.

One or the men involved in a consortium behind the rescue plan is understood to be Justin King, father of GP2 racer Jordan. King Sr is the former chief of the huge Sainsbury's supermarket chain, and has been touted in the past as a potential successor to Bernie Ecclestone, although he has always downplayed such speculation. His involvement suggests that Ecclestone will be keen for all parties to agree that Marussia can indeed use its 2014 car.

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